THE BUZZ: Sony has released a statement denying claims that it has decided to replace Howard Stringer as President with former PlayStation boss Kazuo Hirai.

The statement was issued in a response to reports which claimed that Hirai, who is currently head of Sony Consumer Products, will be promoted to company President. The change is said to be finalized in February with Hirai taking over in April, Stringer would remain as Chairman and CEO.

However, Sony said in a statement, ”Certain media reports were published on January 7th, 2012 regarding Sony Corporation’s executive officers’ appointments. Sony Corporation has made no announcement in this regard and nothing has been determined at this time.”

EGM’s TAKE: This appears to be guess work on the part of these reports, but generally there’s no smoke without fire.